The present disclosure relates generally to systems and methods of financial planning and, more specifically, to systems and methods for personal financial planning and engagement with peer-based comparison.
Individuals often rely on computer-based systems to manage their personal finances. Conventional personal financial management systems include software and Internet-based systems. Certain systems allow users to create budgets and to track goals. However, many systems are cumbersome and difficult to use. Furthermore, some users may be intimidated by creating budgets and setting goals, and may not know where to start. Other users may tend to create budgets and goals, but may neglect to follow their budgets and track their goals. Thus, there is a need for a simple personal financial planning and engagement system.
A significant and continually growing amount of the population uses social media, such as Facebook® and Twitter®, to communicate and to share content over the Internet. Further, individuals often rely on social media for encouragement and personal validation from their social network. However, personal finance is a topic that is conventionally taboo for public discussion amongst acquaintances. Thus, there is a need for a system that facilitates peer-based personal financial engagement and comparison by sharing anonymized financial information over virtual communities, such as social media.